Hong Kong Incorporation
Why set up a company in Hong Kong?
Hong Kong has become an increasingly popular destination for setting up an offshore company. There are various advantages for non-residents looking for Hong Kong Company with bank account.
The per capita GDP of Hong Kong is over $64,000 making it the 10th highest in the world which shows how Hong Kong is thriving as a nation. It is considered a prime location to conduct all sorts of business in not only Asia but the world.
Company formation and bank account opening in Hong Kong have become a popular option for people wanting to set up businesses abroad.
Who can set-up a company in Hong Kong
Hong Kong company is best for businessmen, traders, intellectual property rights holders, expatriates, internet based businesses, etc.
- Private Limited Company
Hong Kong company formation advantages
Opening a limited company in Hong Kong (HK) is simple, fast and inexpensive on account of its liberal economy and reasonable government incorporation fees.
You can run the business from any part of the world as it is not necessary for the director to reside in Hong Kong. They can simply hire a secretary and get a registered office address in Hong Kong.
The required registered capital for a company incorporated in Hong Kong is 10,000 HKD ($1,274) which is lower than most countries.
Hong Kong is a major banking centre which means that incorporating a company entitles you to open a multi-currency business bank account which will be an advantage if you plan to do business worldwide.
Hong Kong has a strong gateway to China and the Closer Economic Partnership Arrangement (CEPA) which provides Hong Kong with additional and exclusive mainland market access benefits.
Hong Kong (HK) has a straightforward taxation system with 16.5% tax payable on all profits.
If the director of the company does not reside in Hong Kong but all other conditions apply, your company can apply for ‘offshore’ status which will entitle your company to pay taxes for the profits generated only in the Hong Kong territory and nowhere else.
Company formation requirements:
- Unique business name
- Minimum of one director and one shareholder (can be the same person)
- One company secretary
- Local registered address
- Incorporation form – NNC 1 or NNC1G (depending on the type of company)
- Articles of Association
- Notice to the business registration office
- Consent to act as a first director (written resolution)
How More Group can help you
Opening an offshore company in Hong Kong is a straightforward but tedious process as it requires lot of paperwork. More Group helps you to register Hong Kong company in 5 working days. In addition to the initial registration of the company, the cost of maintaining a company differs in the first and second years of the business lifecycle which will take more time and effort to manage.
More Group have helped establish several companies worldwide and are experts when it comes to company setup in Hong Kong with a bank account for non-residents. We will handle all the paperwork for company registration and make sure that your company complies with statutory regulations so that you can focus on your business and give it 100% of your time and effort.